** Banque Populaire said it was in exclusive talks to buy 400 bank branches from HSBC France, mainly in the south of the country, for 2.1 billion euros ($3.17 billion). [nL29739266]

** China Eastern Airlines (600115.SS)(0670.HK) has won regulatory approval to set up an airline with aircraft manufacturer AVIC I, maker of the country’s first domestically developed regional jet. [nPEK111608]

** Take-Two Interactive Software Inc’s (TTWO.O) CEO said that major shareholders support the video game publisher’s decision to reject a $1.9 billion takeover bid by bigger rival Electronic Arts Inc, which they see as “woefully low.” [nN28619635]

** Renault (RENA.PA) agreed to pay up to $1.17 billion for a quarter of Russia’s AvtoVAZ (AVAZ.MM) in a bid to revive the outdated Lada brand and take a chunk of what is set to become Europe’s top car market. [nL29212664]

** Billionaire Wilbur Ross has agreed to invest up to $1 billion in Assured Guaranty Ltd (AGO.N), bypassing big bond insurers like Ambac Financial Group Inc ABK.N in favor of a rival that has largely avoided the credit problems plaguing the industry. [nN29196070]

** Dutch brewer Heineken NV (HEIN.AS) continued its expansion into Eastern and Central Europe with the acquisition of Romanian brewer Bere Mures, a deal that will raise Heineken earnings in 2009. [nL29545731]

** Refex Refrigerants Ltd REFX.BO said it has bought a 51 percent stake in Singapore’s Kaltech Engineering and Refrigeration Pte Ltd for 310 million rupees. [nBOM179861]

** Britain’s Expro International Group EXR.L said it had received a proposal which may lead to an offer, sending shares in the oil and gas field services up over a third to a record high. [nL29763384]

** GCap Media GCAP.L, Britain’s biggest commercial radio group, rejected an improved 333 million pound ($660 million) bid proposal from suitor Global Radio and won the backing of a major shareholder. [nL29595396]

** British merchant bank Close Brothers Group Plc (CBRO.L) said that following a number of approaches and discussions with several parties, it was no longer in discussions in relation to an offer for the group or any of its divisions. [nWLB7920]

** Japanese private equity firm Advantage Partners is set to acquire Komeda’s Coffee for about 15 billion yen ($141 million), a source familiar with the deal said. [nT302643]

** British healthcare services firm Nestor Healthcare Group Plc NSR.L said it was still in talks with a number of suitors and may get a takeover offer. [nWLB7968]

** Marks and Spencer Plc (M&S) (MKS.L), Britain’s biggest clothing retailer, has bought a 50 percent stake in a franchise operation in eastern Europe as part of its drive to expand abroad. [nL29258542]

** The European Commission will open an in-depth competition investigation of Austrian oil and gas group OMV’s bid to take over Hungarian peer MOL, looking at transmission networks and petrochemicals, a person with knowledge of the matter said. [nL29161637]

** Shareholders in Spanish property company Colonial (COL.MC) and bidder Investment Corporation of Dubai have extended a deadline to agree on a takeover deal to March 3, Colonial said. [nMDT004948]

** French public works and transport concessions group Eiffage (FOUG.PA) said it had rejected proposals made by 33 percent owner Sacyr Vallehermoso SVO.MC during a meeting at the French presidential palace. [nL29875239]

** British online bookstore operator Argentvive Plc ARGV.L said its deputy chairman, Charles Denton, is seeking to buy out the firm and take it private. [nWLB7961]

** Healthcare firm Meldex International MDX.L said it had rejected a buyout offer, as it significantly undervalues the company. [nWLB7972]

** Arrow Electronics Inc (ARW.N), a distributor of electronic parts and computer hardware, said it agreed to buy the components distribution business of Singapore-based Achieva Ltd ACHL.SI to strengthen its position in the Southeast Asian markets. [nBNG139195]

** Goodrich Corp GR.N said it agreed to buy Teac Aerospace Holdings Inc. Terms of the deal were not disclosed. Goodrich said deal will add to earnings in 2009. [nWNAS3123]

** Sumitomo Mitsui Financial Group (8316.T) laid out plans to become Japan’s biggest credit card issuer, saying it would establish a new holding firm for four companies and merge three of them. [nT71814]

** Turkish conglomerate Sabanci Holding (SAHOL.IS) will seek a strategic partner for its textile company Bossa (BOSSA.IS) in 2008 but has no similar plans for other units this year, its chairwoman Guler Sabanci said. [nL29138441]

** Circuit City Stores Inc (CC.N) said it had received two proposals from investor Wattles Capital Management LLC, including one that seeks the replacement of the electronics retailer’s 12-member board with Wattles nominees. [nWNAS3156] (Compiled by Tina Kwan in Singapore, Ratul Ray Chaudhuri and Manish Gupta in Bangalore)